IT doesn’t have quite the same ring to it as the Year of the Dragon which starts in less than two weeks’ time with the Chinese New Year. However, Tushar Bhate and Paul Elliott, partners at Neon Legal, predict that 2012 will be the year of the pension.
In less than one year, Neon Legal has already built-up a remarkable reputation for providing the most cost-effective pensions law advice available in the UK. The six-strong team of pension lawyers is celebrating the firm’s first anniversary this month, marking a year in which it was recognised as a leading pensions law firm by two separate independent law firm directories.
“With an already impressive client list, Neon Legal looks set to be a key player in the market,” commented the Legal 500. Chambers and Partners stated that the “Tyneside boutique practice is designed to keep client costs down.”
Tushar said “Pensions is the topic that everyone’s talking about right now. Following the public sector strikes late last year, the new year is likely to bring a fresh round of disputes over pensions. However, this time around these are likely to include private sector workers as well.” Paul added “Not only will disputes cause headaches for employers but the task of managing existing pension arrangements will be even more difficult and costly.”
As well as saving businesses money on their legal advice, Neon Legal also advises pension scheme trustees on getting the best deal for their members.
“The pressures on trustees are as great as those on employers,” said Paul. “They’re responsible for running their scheme on a day-to-day basis and keeping on top of the ever-increasing regulatory requirements. It can be a pretty thankless task.”
The Dragon should bring health, wealth and a long, prosperous life – as should a good pension. Year of the Dragon or Year of the Pension? Perhaps both.